Gold and silver prices showed consolidation in early trade on Tuesday, February 10, 2026, after sharp volatility in recent sessions. While gold remained steady above the crucial $5,000 per ounce level, silver staged a strong recovery, rebounding more than 22% from its recent lows.
Precious metals continue to draw support from central bank buying, geopolitical developments, and expectations around global monetary policy.
Silver Price Today: Strong Recovery From Recent Lows
In international markets, spot silver traded near $82 per ounce, recovering nearly 22% from its intraday low of $67 recorded last Thursday. Despite the rebound, silver remains more than 30% below its recent record highs, reflecting ongoing market volatility.
Market experts remain optimistic about silver’s near-term outlook, citing robust industrial demand and expectations that prices will stay elevated through March.
On the domestic front, MCX silver futures (March expiry) were trading at ₹2.63 lakh per 10 kilograms, marginally higher by 0.05% in early trade.
According to analysts, silver’s sharp movements are typical due to its smaller and thinner market structure, which tends to amplify price swings during periods of heavy buying or selling.
Market Sentiment and Key Drivers
Sentiment improved after Japan’s weekend elections, where Prime Minister Sanae Takaichi’s ruling coalition secured a decisive victory, reinforcing expectations of expansionary fiscal support.
There was also cautious optimism following US–Iran talks in Oman, although Iran maintained its stance on nuclear enrichment.
“Attention now turns to key US jobs and inflation data, which could influence expectations for future Federal Reserve policy,” said Ajay Kedia, Founder of Kedia Advisory.
Earlier, a firmer US dollar and reduced global risk appetite led investors to cut exposure to more volatile assets, contributing to silver’s recent decline.
Why Did Silver and Gold Fall Earlier?
The rally in precious metals during January was driven by:
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Heightened geopolitical uncertainty
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Fears of currency devaluation
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Concerns over Federal Reserve independence
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Structural supply shortages
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Strong investment inflows
However, the trend reversed sharply after US President Donald Trump nominated Kevin Warsh as the next Federal Reserve Chair. The move was perceived as hawkish, triggering aggressive profit booking and a rapid unwinding of speculative positions, particularly in silver.
Gold Price Today: Supported by Central Bank Buying
Gold prices slipped marginally by 0.19% to $5,070 per ounce on COMEX, yet remained resilient amid heightened volatility.
Strong central bank demand continues to underpin gold prices. China’s central bank, the People’s Bank of China (PBOC), added to its gold reserves in January for the 15th consecutive month.
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Gold reserves: 74.19 million fine troy ounces (up from 74.15 million)
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Value of reserves: $369.58 billion (up from $319.45 billion)
Despite higher prices, China’s total gold consumption fell 3.75% in 2025 to 950 metric tonnes.
Gold Rates in India Today
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24-carat gold price: ₹1.58 lakh per 10 grams
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Delhi gold rate (24K): ₹1.58 lakh per 10 grams
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MCX gold futures (April): ₹2.62 lakh per 10 grams, up 0.21%
Gold prices have risen 2.17% compared to the previous session, reflecting sustained investor interest in physical assets amid rising fiscal and macroeconomic risks.
Outlook
With upcoming US inflation and employment data, along with evolving geopolitical developments, precious metals are expected to remain volatile. Analysts believe that gold may continue to find strong support, while silver could outperform in the short term if industrial demand remains firm.
